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April 25, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Harrison, Business Loans > Community First Bank Harrison Business Loans > Ready-Mix Concrete Manufacturing Loan | ||||
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How to Get SBA Money in Eureka Springs, Arkansas
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Eureka Springs, Arkansas Entrepreneur Gets a Small Business LoanArkansasSmall business loans are available to Arkansas small business owners through the SBA. In this case, an Arkansas bank provides the loan. This business, based in Eureka Springs, Arkansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Community First Bank. We've got the inside scoop on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: READY-MIX CONCRETE MANUFACTURING SBA Loan Lender COMMUNITY FIRST BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 327320 - Ready-Mix Concrete Manufacturing Loan Approval Date 10/28/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community First Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links:
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